/// Pro Sports Leagues Targeted in Tax Reform Movement

Professional sports leagues like the National Football League and the National Hockey League are getting swept up in the move towards tax reform in Congress. Two bills introduced in the the House and the Senate would take away the leagues' non-profit tax exempt status. Currently, the team franchises are taxable, but the leagues themselves are not. As Rep. Jason Chaffetz (R-Utah) said when he introduced the Properly Reducing Overexemptions (PRO) Sports Act, “in reality, the NFL and the NHL are for-profit businesses, and they should be taxed as such. They are not charities nor are they traditional trade organizations like local chambers of commerce.” The NFL is inarguably one of the biggest moneymakers on the planet, generating billions annually. Half of the league's teams are are valued at over $1 billion, according to the NFL's own tax filings. NFL commissioner Roger Goodell's compensation came in at nearly $30 million.

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Talk NYC/WW is your daily download of the tech, marketing and advertising news you need to know. It’s smartly curated to keep you up to speed on the innovators and innovations that are shaking up the digital world today.